Wife just pulled the plug.
Wife just exploded our life (Happy mothers’ day). We are in a consumers proposal and deep debt. I need to know the finance side, what options I actually have. I assume debts and assets and custody will be about 50/50. I’m more concerned about the first 90 days. Where do I live? Do I have to sell the house? It happened 30 minutes ago, she announced it in front of the kids (all on some spectrum) because she’s classy like that I guess. It’s been 30 minutes of telling screaming kids mom still loves them and things won’t change all that much. But our financial situation is real. Who will rent to someone with an active CP and a 550 credit score? No one, that’s who. I’m cross posting in divorce sub.
Location: Canada
Home value: $425 to $450K
Mortgage outstanding: $280K on a brand new renewal under 4%
Car loan outstanding: $32K @ 6.5%
CP: over 24 months left. $45,000.
Assuming we liquidate and sell the car carrying the debt and the house, I estimate we net $66k on the low end, and a smidge over 100 on the high end. Only…again, then what? My kids might have to move schools. But who would even rent to either of us? As many people have discovered, I actually expect to have more time and money single than partnered. This isn’t the first time she’s pulled this shit, but I expect to make it the last. I’m numb to her, I tried to be the only one working on this and have lived in the shadow of her anxiety and possessive need to have things her way for far too long. So if you were me, what’s your play?
- do you finish exploding your life, sell everything and move into a crappy trailer for a few years?
- do you tough it out and try a nesting situation and still see the person who used to love you every day?
- do you pretend it didn’t happen and see if she comes back?
-Do I sell to private equity with a 2 year leaseback so my credit can recover, and let her find a friend to live with/nest?
Also, should I cancel my kids birthday parties? I’ll cancel the family one for sure.
I’ve been sad since the first time she did this 4 years ago. It split us then. I can’t imagine how she got to this part I just know I played a role. So many times I wanted to mend things, but most times I made the effort I was refused. It’s been mostly business, kids and chores, and the urge to comfort and reconcile.
Ok, rant (or whatever this is) over.